I don't know that the actual distinction I feel in courses bears the label put on the idea, "match///medal"...but I do feel a distinction somewhere near that label.
The contrivance of a match or medal always impacts play, no matter the greatness/labeling of a hole or course; doesn't matter what you call the hole, or how wonderful it might be, if we're playing a match and you're OB, I'll bunt it to 7 if I have to, the strategic and aesthetic merits be damned. If we're fellow competitors in a medal, and you're OB, I don't give a rats ass, I'm playing to keep every number and the total down...does the course/hole permit that....?
Perhaps too, the distinction might lie in how you got to the OB/penalty in the first place...was it a wild swing or missed shot...or was it near a fine shot, but you risked a notorious trouble...and it didn't go your way? The latter to me, while not exclusive to a great hole or great course is somewhat indicative of that distinction...punishing a swing error, which we all make, is more of the medal strain... rewarding/risking an error to gain a match edge on THAT hole, THAT shot, is more to the match properties...
I also have appreciated that a thing I would call match, more rewards "fortune" than "skill"... USOP Chambers Bay in 2015 was a fair example to me - I forget now which late back nine hole (14-16?) was a nearly drivable downhill sidehill thing which played as a litany of the same shot...player after player in their magnificent games, certainly the weekend leaders, just bombed whatever...driver...fairway wood. Without too much hyperbole, I report that 80% of the drives I witnessed from my chair landed ...flew to...carried...bounced through or skipped along the same 1000 sq feet of turf, and all that mattered was HOW it bounced on that firm, pocky ground some 70 yards short of the green...most took a wicked hop, veering with the slope to send the ball(s) at or near or into a transitionally wasty bunker area some 20-30 yards short right...but some hopped forward and left a straight chip at the green front (that was indistinct too, as you might recall the Chambers set up, which almost didn't have a cut distinction at the greens), and some even made it to the surface for an eagle putt... After watching some 30-50 outcomes on the hole over the weekend, I came to feel it was "match" hole, kind of out of place in a world championship medal event. There was no appreciable difference or strategic approach between DJ, Day, Spieth etc..etc... they all bashed it, were comfortable with that short right bunker or similar outcome, and knew the only big error they could make was double-crossing into the hi-left hillside. Only the fortune of the bounce sorted out who would prosper on the hole, and the play from near that right bunker was similarly "pat", you either drew a lie you could do something with or you didn't and you had to grind a bit for the four.
I enjoyed watching that fortune as a consumer, so if that's the point, it's another conversation, but it gave some definition for me to what that distinction - imperfectly labeled though it may be - ...is.